Walmart focused on digital, dials back store growth

Walmart, the biggest retailer in the world that until last year, practically left its e-commerce operations to drift, is doing what many analysts love to see in an era when Amazon dominates headlines. Presentations at its investors day in Arkansas revealed a decided pivot from its roots as a brick-and-mortar retailer with rock-bottom prices and super-efficient supply chain. The expectation is for 40% online sales growth for the year.

“We like [Walmart’s] aggressive and innovative strategies to leverage its store network, which we believe provides strategic advantages over both brick and mortar and online competition, to drive store, digital, and omnichannel growth,” Cowen & Co. analysts said in a note emailed to Retail Dive.